Answers to Frequently Asked Questions Presented by
The New Mexico Public Accountancy Board and the New Mexico Society of CPAs
When did the 150-hour education requirement to sit for the CPA examination become effective?
In New Mexico this requirement became effective July 1, 2004.
Are there specific courses mandated for meeting the 150-hour requirement?
Within the 150 hours, you must have a bachelor’s degree and 30 semester hours in accounting.
Is a Master’s degree required as part of the 150 hours?
No.
Are there courses that will not be accepted as part of the 150 hours?
Any course taken through a regionally accredited institution will be accepted, provided the institution awarded credit for the course. Credit will only be accepted one time if a course was taken more than once. Both undergraduate and graduate courses may be taken to meet the 150-hour requirement.
What if I attended an institution that followed the quarter-hour system?
Quarter hours are converted to semester hours by multiplying them by 2/3 or .66. The quarter- hour equivalent of 150 semester hours is 225 quarter hours. The quarter-hour equivalent of 30 semester hours of accounting is 45 quarter hours.
What if I received conditional credit (passed 2 parts of the examination) during the November 2003 paper-and-pencil examination?
You will maintain your conditional credit through November 30, 2006. The remaining corresponding sections of the computerized examination must be taken by November 30, 2006.
What effect does the 150-hour requirement have on interstate reciprocity?
Individuals applying for licensure in New Mexico by reciprocity from another state must have completed 150 hours to include a bachelor’s degree; 30 hours in accounting; and 1 year of experience in accounting earned under the supervision of a licensed CPA. As rules and requirements vary by state, a licensed New Mexico CPA seeking licensure in another state by reciprocity should contact the licensing board of that state to ascertain requirements.
What are the parts of the computer-based examination?
Is there a tutorial available to help me prepare for the computer-based examination?
Yes, you should visit the www.cpa-exam.org website.
May I sit for only one section of the examination?
Yes, you may register for one, two, three, or four sections of the examination at one time, and you will schedule each section individually with the testing center.
Must I sit for the examination in New Mexico?
No, you may sit for the examination at any authorized testing center in the country, provided you have registered as a New Mexico candidate.
How frequently may I take the examination?
You may take each section of the examination 1 time per testing window. A testing window is the first 2 months of each quarter. For example, in the 3rd quarter, the testing window is July and August.
How do I register for the computer-based examination?
Contact CPA Examination Services at 1-800-272-3926, ext. 4248, or visit their website at www.nasba.org. You must submit your application and transcripts to CPA Examination Services for a qualification review. Once you are deemed eligible to sit for the examination, you will be sent a Notice to Schedule. This document will provide instructions for scheduling the examination and testing site regulations.
To view the New Mexico Public Accountancy Board’s rules governing the computer-based examination and the 150-hour requirement, visit the NMPABRules and Law web page. The pertinent rule is 16.60.2 NMAC, Uniform CPA Examination Requirements.
Prospective CPAs can visit the New Mexico Society of CPAs website for additional information. NMSCPA is the professional association of CPAs in New Mexico.